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Supplemental Financial Information
 12 Months Ended
May 03, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Information Supplemental Financial Information
Inventories
Inventories consisted of the following (in thousands):
May 3, 2025April 27, 2024
Raw materials$12,734 $9,415 
Work in process24,583 7,470 
Finished goods52,712 9,022 
$90,029 $25,907 
Property and Equipment, Net
Property and equipment consisted of the following (in thousands):
May 3, 2025April 27, 2024
Production equipment$44,789 $27,608 
Computer equipment and software27,901 18,271 
Laboratory equipment21,944 19,840 
Leasehold improvements3,222 2,525 
Others291 534 
Construction in progress9,687 3,616 
107,834 72,394 
Less: accumulated depreciation and amortization(44,203)(28,729)
$63,631 $43,665 
Depreciation and amortization expense, excluding the asset impairment charges, for the years ended May 3, 2025, April 27, 2024 and April 29, 2023, was $21.9 million, $13.8 million, and $9.5 million, respectively. Construction in progress and production equipment primarily includes mask set costs capitalized relating to the Company’s products.
During the years ended May 3, 2025, April 27, 2024 and April 29, 2023, the Company recorded impairment charges of $0.9 million, $0.8 million and $2.4 million, respectively. Generally, the impairment charges were related to impairment of property and equipment or third-party IP licenses for future products that did not reach production qualification.
Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
May 3, 2025April 27, 2024
Accrued expenses$12,202 $8,832 
Accruals relating to inventory purchases10,164 778 
Current payables relating to purchases of property and equipment8,420 5,950 
Current portion of operating lease liabilities3,342 2,741 
Other1,328 3,902 

$35,456 $22,203 
Other Non-current Liabilities
Other non-current liabilities consisted of the following (in thousands):
May 3, 2025April 27, 2024
Non-current payables relating to purchases of property and equipment$5,762 $4,950 
Other non-current liabilities1,509 1,031 
$7,271 $5,981